MONTREAL, Sept. 10, 2012 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec announced today a $12.5 million investment in Enviro-Viridis
Development Corporation (Enviro-Viridis), a company specialized in
waste and recycling management and based in the Greater Montreal Area.
"This investment will allow Enviro-Viridis, a major industry leader, to
continue to expand and will facilitate future acquisitions, while
contributing to our depositors' returns," said Normand Provost,
Executive Vice-President, Private Equity of the Caisse de dépôt et
placement du Québec. "Enviro-Viridis has shown remarkable growth over
the last few months, considering its addition of new facilities and
acquisition of various waste management companies. Once again, the
Caisse is joining forces with Novacap, a key private equity player that
is extensively involved with Québec companies."
"Enviro-Viridis is continuing to develop and implement its expansion
plan, which makes this investment crucial," said Domenic Mancini,
Chairman of the Board of Enviro-Viridis and General Partner of Novacap
Industries. "Novacap and the Caisse have been working together for more
than 30 years and are choice partners for high-potential companies,"
asserted Jacques Foisy, President of Novacap Industries and financial
partner of Enviro-Viridis since 2009. "Like us, the Caisse supports
Québec companies in their long-term expansion plans."
"Over the last few months, we have opened two sorting centres for
building, renovation and demolition materials: one on Montréal's South
Shore and the other on the island of Montréal," said Richard Lafrenière
and Gilles Bergeron, President and Senior Vice-President, respectively,
of Enviro-Viridis. "We have also strengthened our market position
through various acquisitions in our industry. We are proud to now be
able to count on the Caisse as a partner in our projects."
Enviro-Viridis is a recycling and integrated waste management company
with over 300 employees. Active in the Greater Montréal Area and the
Trois-Rivières area, it is involved in collecting, recycling and
processing domestic, commercial and industrial waste materials. With
its three sorting stations, the company focuses on recovering a high
volume of the waste collected, reducing landfill and recycling waste.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As at December 31, 2011, it held $159 billion in net
assets. As one of Canada's leading institutional fund managers, the
Caisse invests in major financial markets, private equity and real
estate. For more information: www.lacaisse.com.
With $790 million in assets under management, Novacap is one of Canada's
leading private equity firms. Since 1981, its distinct partnership
approach based on operational expertise has helped companies accelerate
their growth and maximize their value. Novacap ranks among the top
private equity firms in North America. For more information, consult: www.novacap.ca.
SOURCE: CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
For further information:
Corporation de Développement Enviro-Viridis inc.
President & Chief Executive Officer
4365 St. Élzear Blvd. West
Laval, Québec H7P 4J3
Caisse de dépôt et placement du Québec